• Coinbase raises gas limit on its validators.

• Swellchain goes live on mainnet.

• EigenLayer awards 1m EIGEN to AltLayer.

• Mantle transitions to ZK with Succinct.

Coinbase has increased the gas limit on its validators to 36 million, aligning with recent discussions within the Ethereum community about increasing the limit to enhance network capacity. Discussions have been active since early this year, with client teams supporting the increase in recent weeks. According to data shared by Toni Wahrstätter, 10% of validators signal a gas limit greater than 30 million. Raising the block gas limit allows each block to contain more data, which improves transaction throughput. An increase of 10 million gas could reduce Layer 1 transaction fees by an estimated 15-33%. The adjustment does not require a hard fork; validators can implement the change simply by modifying their node configurations.

Swellchain, a restaked rollup built on the OP Stack, is now live on mainnet. Coined as a central hub for restaked assets, Swellchain implements Proof of Restake, a mechanism that uses Swell's liquid restaked assets to secure both EigenLayer AVS and Symbiotic Networks. The rollup's launch features two AVS: Ditto Automation, which ensures secure automation via its Keeper network, and Hyperlane, which facilitates asset interoperability. Swellchain's initial partners include Ethena, EigenLayer, Symbiotic, Renzo, Kelp, and EtherFi. Swell is allocating a pool of SWELL tokens to USDe holders and Ethena liquidity providers on the network. 31 million SWELL tokens are also allocated for early users who bridge o the rollup. Swell Network currently has a total value locked (TVL) exceeding $1.4 billion.

EigenLayer awarded AltLayer a retroactive grant of 1 million EIGEN tokens in recognition of their contributions to the EigenLayer ecosystem. As a rollup-as-a-service provider, AltLayer has played roles as an AVS builder, operator, and technology contributor. AltLayer pioneered the restaked rollup framework. The framework incorporates decentralized sequencing, verification, and fast finality into Actively Validated Services (AVS) on EigenLayer. AltLayer has decided to allocate the entire grant to its community. The initial 500,000 EIGEN tokens will go to holders of reALT tokens. The distribution of the remaining tokens will occur after the introduction of EigenLayer's V2 reward mechanism.

Mantle, an optimistic-based network promising low fees and high-security guarantees, is shifting to a ZK-based proof mechanism by integrating Succinct’s zkEVM framework and SP1 technology. SP1 is a versatile zkVM designed for fast and cost-efficient zero-knowledge proof generation. Mantle will maintain full EVM compatibility. Using EigenLayer for its data availability, Mantle functions similarly to a Validium by processing both computation and data storage offchain. Mantle has over $2.2 billion in TVL.

• ACDE #202 recap

• Coinbase disables WBTC trading 

• Ethereum 2024 staking insights

• SEC approves Hashdex's BTC/ETH ETF

• Agglayer v0.2 is live on testnet

• Polygon awards 50k MATIC to Vyper

• Virgil to be released by April 2025

• Protocol Guild x meritocracy discussions

• Lens Protocol raises $31 million.

• Etherscan supports AA tx data.

• Ink L2 goes live on mainnet.

• Deutsche Bank L2 on ZKsync.

Ink, a Layer 2 network built on the OP Stack by Kraken, has launched on mainnet ahead of its planned Q1 2025 schedule. Users can now bridge to Ink and explore applications on the network. Ink features fast 1-second block times and settles transactions on Ethereum. Kraken, in a move similar to Coinbase with Base, is transitioning its infrastructure onchain to facilitate easier access to DeFi services and to integrate its centralized exchange. As a Superchain member, Ink will adopt interoperability, governance standards, and shared upgrades. It will also allocate a portion of its sequencer revenue to the Optimism Collective.

Lens Protocol, an open web3 social-graph platform, raised $31 million in a funding round led by Faction. The round included participation from Avail, Circle, Consensys, and others. The fresh capital will be used to boost the development of Lens Network, focusing on integrating social and financial interactions onchain. Lens Network was unveiled in May 2024 as an EVM-compatible Validium chain built on ZKsync’s ZK Stack. The network will launch in three phases, transitioning from Validium to Volition and will process financial transactions in ZK Rollup mode and social transactions in Validium mode. Lens Network is set to launch on mainnet in early 2025.

Etherscan released a beta feature that allows users to browse and identify ERC-4337 user operations, providing access to a list of account abstraction transactions along with detailed information on individual AA bundles and transactions. Account abstraction leverages contracts to enhance both the security and usability of user accounts. For each transaction, Etherscan now displays key details including the AA Transaction Hash, Bundle Transaction Hash, gas fees, gas prices, and the entry points utilized. The Etherscan search bar also supports searches for AA transactions. 

Bloomberg reported that German bank Deutsche Bank is developing its own Layer-2 network, known as Project Dama 2, utilizing ZKsync’s ZK stack. The network is a public-permissioned Layer-2 blockchain that includes a secure digital identity system, efficient management of gas fees, and modular smart contracts. The L2 network aims to improve the management, distribution, and servicing of digital assets, while also enhancing regulatory compliance for the bank. The project is currently in a testnet stage.

• Sophon launches on mainnet

• BiTGlobal loses lawsuit

• Fluidkey supports bank transfers

• Ethena launches USDtb backed by BUILD

• ENS Labs partners with Linea to build Namechain.

• Relay introduces Deposit Addresses.

• Aligned introduces its ALIGN Genesis Drop.

• Fuel releases its FUEL eligibility checker.

ENS Labs announced that it has selected Linea’s ZK stack for the deplployment of Namechain, a zkEVM-based Layer 2 solution designed to enhance cost efficiency, performance, and the developer experience for ENS. ENS Labs chose Linea for its Type-2 zkEVM, high-performance prover, and commitment to Ethereum’s principles. Namechain is an integral part of the ENSv2 upgrade, which migrates primary .eth domain activities to Layer 2. It includes introducing new core contracts on both layers, deploying essential ENS infrastructure on Layer 2, and integrating the updates with the legacy system. While domain registrations and renewals will transition to Layer 2, name resolution will continue on Ethereum Layer 1. Linea is an EVM-equivalent ZK-rollup developed by Consensys. Linea was the first L2 network to deploy a trustless L2 resolver for ENS domains.  Linea was also the first zkEVM to implement CCIP Read, a standard that enables the retrieval of offchain or cross-chain data, such as ENS domains. Over 500k ENS subnames have been registered on Linea to date.

Relay Protocol introduced Deposit Addresses, a new feature enabling users to send funds to a Relay Deposit Address from any chain for seamless cross-chain bridging. The service facilitates fund transfers without the need for users to connect their wallets and supports major tokens across EVM chains, Solana, and Bitcoin. The service features automated error correction for transfers made to incorrect chains, duplicate deposits, and partial deposits. In cases of transaction issues, the system can automatically issue refunds to the original chain. Service integration for bridge providers involves setting a specific parameter in their API request, which prompts the system to generate deposit addresses as needed. The feature will soon be integrated into Relay’s user interface.

Aligned initiated the ALIGN Genesis Drop, allowing users to check if they qualify for ALIGN tokens and register a recipient address. The registration period for eligible users will close on December 23rd. ALIGN serves as a utility token, facilitating payment for proof verifications and dual staking to boost the security of the Aligned network. To be eligible for this drop, users must have held at least $50 USD worth of either MINA, STRK, POL, EIGEN, SCROLL, ZK, or TAIKO tokens at their historical lowest price. ALIGN has a total supply of 10 billion tokens, with 3 billion initially circulating and 2.6 billion allocated to the community. Aligned also allocated 1.5% of its supply to the Protocol Guild. Aligned aims to provide high throughput and cheap proof verification with low latency. Its first product, built as an Actively Validated Service (AVS) on top of EigenLayer, is currently live on mainnet beta.

• ACDE #202 agenda

• Fuel releases its eligibility checker

• Warpcast introduces Rewards

• Polygon comments on bridge proposal

• 2025 Ethereum events list

• Coin Center 2025 Priorities

• Coinbase responds to BiT Global lawsuit

• Remote enables USDC payouts

• Lido introduces Community Staking Tribes

• Velodrome will deploy on Soneium

• CyberKongz receives SEC Wells Notice